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Pavel [41]
3 years ago
7

Anchor Company purchased a manufacturing machine with a list price of $160,000 and received a 2% cash discount on the purchase.

The machine was delivered under terms FOB shipping point, and freight costs amounted to $2,400. Anchor paid $3,000 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $3,600 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be:
Business
1 answer:
Contact [7]3 years ago
5 0

Answer:

$162,200

Explanation:

The computation of the cost recorded in the asset account is shown below:

= List price - cash discount + freight cost + installation charges

= $160,000 - $3,200 + $2,400 + $3,000

= $162,200

The cash discount is computed below:

= List price × cash discount percentage

= $160,000 × 2%

= $3,200

All other information which is given is not relevant. Hence, ignored it

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Answer:

P_i = 5000 units *12.5\frac{dollars}{unit} = 62500 dollars

And for the new case we know that the sales increase by a factor of 2%, so then we can find the new number of sales like this:

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And the Total August sales would be given by:

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And the correct answer for this case would be:

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Explanation:

For this case the original number of sales for this case is 5000 units and the unitary price is given by 12.5 \frac{dollars}{unit}

And the total sales for the original case would be given by:

P_i = 5000 units *12.5\frac{dollars}{unit} = 62500 dollars

And for the new case we know that the sales increase by a factor of 2%, so then we can find the new number of sales like this:

1.02*5000 units= 5100 units

And the Total August sales would be given by:

P_f = 5100 units *12.5 \frac{dollars}{unit}= 63750 dollars

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Answer:

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